This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Unemployment Bump From Shutdown Hits Many Groups

By The Associated Press

The 16-day partial government shutdown is being blamed for the first increase in the U.S. unemployment rate since May.

Nationally, the rate ticked up to 7.3 percent last month from 7.2 percent in September. And most say the reason is because hundreds of thousands of furloughed federal workers were temporarily counted as unemployed.

The increase appeared to affect a broad range of workers, likely reflecting the diversity of the federal government's workforce. Unemployment rose for white men, black women and Hispanic workers of both sexes. It also increased for college graduates, workers with some college experience and high school dropouts.

Despite the distortion from the shutdown, a few groups experienced drops in unemployment last month.

For those workers with only a high school diploma, unemployment fell to a post-recession low of 7.3 percent. Many of the jobs created last month were in fields that may not require college degrees, including manufacturing, restaurants and construction.

Another group with lower unemployment last month was young adults: those between the ages of 20 and 24. Still, the rate for those workers remains fairly high at 12.5 percent.

The national rate is expected to fall back down again in November, and many of the subcategories should follow.

Here are more details from the government's report: Unemployment rates for:(Numbers in percentages)October 2013September 2013October 2012White:*: men: women: years old:12.512.913.225-54 years old: and over: of Iraq/Afghanistan*: high school diploma:10.910.312.2High school graduate: college: graduates: of UnemploymentAverage length (weeks):36.136.939.9Jobless 6 months or more (pct.):36.136.940.8* not seasonally adjustedSource: Labor Department

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs